Q3 2025 IGM Financial Inc Earnings Call Transcript
Key Points
- IGM Financial Inc (IGIFF) reported a record high adjusted EPS of $1.27, demonstrating strong performance across its core businesses.
- The company achieved $2.4 billion in net inflows during the quarter, with year-over-year earnings growth of 24% for IG Wealth and 15% for Mackenzie Investments.
- IG Wealth Management ended the quarter with record assets under management and advisement (AUM&A) of $156 billion, up 14% from the previous year.
- WealthSimple reached a milestone of $100.8 billion in assets under administration (AUA), marking a 94% increase over the previous year.
- Mackenzie Investments reported strong momentum with net sales of $2 billion in the quarter, driven by improvements in retail and institutional channels.
- The company remains cautious about potential market corrections and volatility, which could impact future performance.
- Mackenzie Investments' retail flows, while improving, still lag behind the momentum seen at IG Wealth Management.
- The advisory fee rate at IG Wealth Management dropped by 1.4 basis points due to clients moving up wealth bands and decreased client cash balances.
- Mackenzie's third-party rate decreased due to onboarding of institutional assets, with expectations of further rate reductions in the next quarter.
- Northleaf's earnings came in lower than expected due to seasonality and one-time items, with anticipated quarterly earnings of approximately $5 million going forward.
Thank you for standing by. This is the conference operator. Welcome to the IGM Financial third quarter 2025 analyst call and webcast. (Operator Instructions)
I would now like to turn the conference over to Kyle Martens, Senior Vice President, Corporate Development and Investor Relations. Please go ahead.
Thank you, Betsy. Good morning, everyone, and thank you for joining us. On the call today, we have James O'Sullivan, President and CEO, IGM Financial; Damon Murchison, President and CEO of IG Wealth Management; Luke Gould, President and CEO of Mackenzie Investments; and Keith Potter, Executive Vice President and CFO of IGM Financial.
Before we get started, I would like to draw your attention to our cautions concerning forward-looking statements on slide 3 of the presentation. Slides 4 and 5 summarize non-IFRS financial measures and other financial measures used within this presentation. On slide 7, we provide a list of documents that are
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